Sinohope Technology Holdings Ltd. has issued a profit warning for the six months ended March 31, 2025. The Group is expected to report a net loss of not less than HK$10 million, a significant decline from the net profit of approximately HK$101.2 million recorded for the same period in 2024. This anticipated loss is primarily attributed to the suspension of cryptocurrency mining services, leading to a decrease in revenue by approximately HK$17 million compared to the previous year. Additionally, there is a reported decrease in fair value gains on cryptocurrencies amounting to approximately HK$43 million. The absence of a one-off reversal of the provision for impairment of the FTX Deposit, which was approximately HK$78.8 million in the previous period, also contributed to the expected loss. These figures are based on a preliminary assessment by the Board, and the unaudited interim results are expected to be announced by the end of May 2025. Shareholders and potential investors are advised to exercise caution in dealing with the company's shares.
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